JOHANNESBURG (Reuters) – A longstanding executive of South Africa’s PPC Ltd has left the company, the cement maker said on Thursday, becoming the latest departure following a high-profile tussle between the board and its former chief executive.
PPC said in a statement that Richard Tomes had resigned as joint managing director to pursue other opportunities. Tomes’ resignation comes after Chief Executive Ketso Gordhan abruptly quit last month, citing differences of opinion with the board.
Days later, Gordhan told local media he wanted to retract his resignation and was canvassing shareholders to back his return to the company.
Shares of PPC were down 1.5 percent at 28.03 rand at 1305 GMT.
